Why should California be allowed to have the same percentage based property tax to begin with? Assessed values that skyrocketed due to Silicon Valley and Corrupted Mortgages and Appraisals shouldn't mean California gets to give itself a humongous raise at the expense of it's constituents. More so due to the bail out and them artificially keeping interest rates down re-enabling these high values. The economy as a whole would be better off by managing housing values to not be out of line with median incomes of any given area.